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  Genting Group Acquires Stalled Echelon Las Vegas Site;
Plans to Develop $7 billion Resorts World Las Vegas

The First Phase will Include 3,500 Rooms for the Project
which is Genting's Las Vegas Debut

LAS VEGAS, March 5, 2013
-- Leading Nevada elected officials, including Governor Brian Sandoval and US Senate Majority Leader Harry Reid, today joined Genting Group Chairman KT Lim in announcing plans for a transformational new development project at the Echelon site along the Las Vegas Strip. This morning, Genting announced it has acquired from Boyd Gaming Corporation the 87-acre parcel, which will be used to create 'Resorts World Las Vegas,' Genting's first destination resort in Las Vegas.

"We are incredibly grateful to the leaders of the State of Nevada, Clark County and the City of Las Vegas for joining us in announcing what will be a fantastic addition to the top resort destination in the United States," said KT Lim, Chairman and Chief Executive of the Genting Group . "This is a great day for Genting, Las Vegas, and the State of Nevada, and we look forward to taking full advantage of this exciting new opportunity."

"The entrance of one of the world's leading resort gaming developers into Nevada is another fantastic sign that Las Vegas and The Strip are poised for great things moving forward in 2013 and beyond," Governor Brian Sandoval said. "The Genting Group and Resorts World Las Vegas will bring several thousand new jobs to our State, and will help us in keeping our economic resurgence on the right path towards success. I'd like to welcome Genting to the great state of Nevada, and we all look forward to the ground breaking of this new dynamic project."

Resorts World Las Vegas will be a world-class destination resort with 3,500 rooms in the first phase, as well as 175,000 square feet of total gaming space across several gaming floors, and several luxury dining and retail amenities. The resort will also include additional convention space for Las Vegas trade shows, helping the city attract international business travelers with a distinct focus on business-to-business events and conferences. Over the course of the construction and operation process, Resorts World Las Vegas will bring tens of thousands of jobs to Southern Nevada for many years to come.

"Las Vegas is considered the gold standard in the world of gaming, resorts, and entertainment, and this project is an incredible addition to the thriving industries that call Las Vegas and Nevada home. A project of this size and magnitude will not only attract more visitors to our State, but will be a boon to the Nevada economy both in terms of jobs and Southern Nevada's continued economic recovery and growth," Senator Harry Reid (D-NV ) said.

"This is an unparalleled opportunity to showcase what has made the Resorts World brand a globally recognized success for the past several decades," added Lim.

The Genting Group currently has gaming facilities and is licensed in the jurisdictions of Malaysia, the Philippines, the United Kingdom, Singapore, Bahamas and the State of New York.

More information on The Genting Group and Resorts World Las Vegas is available at www.genting.com.

Resorts World Las Vegas is operated by the Genting Group, a global company founded in 1965 operating destination resorts in the Americas, Malaysia, the Philippines, Singapore, the United Kingdom, and on all four oceans through its 45% ownership of Norwegian Cruise Line and Star Cruises brands. Genting has over 40 years of experience developing and operating destination resorts that collectively employ about 60,000 people and offer an unparalleled resort experience to over 50 million visitors a year.
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Contact:

Stefan Friedman
SKDKnickerbocker
+1-646-241-7786
friedman@skdknick.com

Rachel Wilkinson
The Rogich Communications Group
+1-702-796-1773
rachel@lasvegaspr.com

 


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Also See: Singapore's Mega-Resort, Resorts World Sentosa, to Open Two New Hotels; The 172-room Equarius and the 22 Beach Villas Bring the Resort Hotel Total to Six / February 2012

Genting Group's Resorts World Miami Takes Ownership of the Omni Center and Hilton Hotel in Miami, Florida and Names Christian Goode as President of Resorts World Miami; Omni Center Acquisition Represents First Step in Development of the $3.8 Billion Resort / November 2011

Miami Resort Developer Genting Group Taking Direct Aim at Las Vegas; Will Also Bankroll and Subsidize Direct Flights from Asia if Need Be / October 2011

Las Vegas Sands Trying to Muscle Aside Arch-Rival Genting Group for Development of Miami Casino Resort? / October 2011

Colin Au, President of Genting Americas, on a Lobbying Mission and Determined to Close Gambling Casino Deal in Florida / October 2011

Genting Group Vying for Control of Miami's Financially Troubled Omni Center Which Includes a 525-room Hilton Hotel; Their Vision is Big and They Are Here to Stay and Build / September 2011

The Genting Group Buys Remaining Debt on Omni Center in Miami, Florida with Plans to Include Property in $3 Billion Planned Resorts World Miami / September 2011

Genting Group is Betting on Miami as Future for Development of a $3 billion Resort Destination with Purchase of Miami Herald Property / August 2011

The 360 room Hard Rock Hotel Singapore Opens; The $223 million Hotel is Part of the Genting Groups Resorts World Sentosa on Sentosa Island / January 2010
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